Solar engineering, procurement, and construction (EPC) company Waaree Renewable Technologies has received a letter of award from Purvah Green Power for EPC of a 300 MW solar power project in Bikaner, Rajasthan.

The project’s contract value is ₹3.46 billion (~$40.49 million), and it is scheduled for completion this financial year.

In September 2024, Purvah Green Power was selected by Calcutta Electric Supply Corporation (CESC) to develop 300 MW of interstate transmission system-connected solar power projects across India. Of the total capacity, 150 MW will be developed through tariff-based competitive bidding, while the remaining 150 MW will be executed under a greenshoe option.

The tender for these works was floated in July 2024.

In May, Waaree secured an EPC contract, including operation and maintenance, for 94 MW of solar projects under the second phase of the Mukhyamantri Saur Krushi Vahini Yojana, with a contract value of ₹1.14 billion (~$13.34 million).

In December last year, Waaree Renewables Technologies secured an engineering, procurement, and construction contract for a 2 GW solar project in Bikaner from Sunbreeze Renewable Nine, a special-purpose vehicle of Jindal Renewables.

The company had also won Rewa Ultra Mega Solar’s auction to develop a 170 MW solar power project at the Neemuch Solar Park in Madhya Pradesh.

Waaree Renewable Technologies reported a 74.84% year-over-year rise in revenue to ₹4.81 billion (~$56.15 million) from ₹2.75 billion (~$32.1 million) in the fourth quarter of the financial year 2024-25.

Purvah commenced operations in December 2023 in West Bengal, focusing on generating, trading, and dealing in electrical energy derived from renewable energy sources. In August 2024, CESC acquired a 63.91% equity stake in Purvah at the cost of ₹2.05 billion (~$24.48 million). Purvah was earlier a wholly-owned subsidiary of Crescent Power, a CESC subsidiary.

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